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You have been hired as the accounting manager for a local restaurant chain. You balance the cash registers and make the bank deposits daily. You
You have been hired as the accounting manager for a local restaurant chain. You balance the cash registers and make the bank deposits daily.
You go into each restaurant daily and collect the cash register tapes and reconcile the sales. Employees clock in and out on their timecard in the back room near the kitchen.
While working late one evening, you watch one of the waitstaff clock out. On the way out, you notice the person walks to the refrigerator while no one is looking and places several packages of meat in a backpack before leaving.
In casually talking to the other employees during the past week, you learned that this waitperson has a child in chemotherapy and their family is struggling with financial obligations.
The Chief Financial Officer the person who hired you has noticed that this restaurant is unprofitable. The CFO is thinking of closing it down, meaning several people will lose their jobs. The CFO asks for your insights.
What do you doAs the accounting manager what would you do taking into consideration recent topics covered in the course such inventory control, cash management, payroll and internal controls. What types of suggestions would you have to alleviate the problem or at least mitigate the losses?
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